Through policy interventions, Indian cities need to be reimagined as a network of inter-connected assets and services which serve to strengthen the social contract between citizens and their cities by improving their quality of life, the Economic Survey has flagged.
Spreading risks in sourcing raw materials for electric vehicle (EV) manufacturing is "very critical" and the government can play a key role by enabling access to these from multiple locations worldwide, said Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility, on Friday while stressing the need for faster localisation, especially of batteries.
...on par with oil, power, and defence, and to restrict its storage under foreign control.
Maruti Suzuki's e-Vitara marks its high-stakes EV debut with strong export ambitions, lifting its stock even as analysts caution over pricing and fierce competition.
'As long as apps show impossible delivery times, delivery and packaging workers will be pressured to meet unsafe, unhealthy standards.'
Union telecom minister Jyotiraditya Scindia on Tuesday said investment in India at present makes economic sense for every original equipment manufacturer, as he cited the example of US smart devices major Apple's decision to source majority of the iPhones sold in the US from the country. While speaking at the Bharat Telecom event, Scindia said the investment in India at present is not just an act of goodwill alone but it makes economic sense for every OEM (original equipment manufacturer).
Smartphones have been a key success story of the government's production-linked incentive scheme, helping India become the second-largest mobile phone manufacturing country, after China.
Private investment projects constitute well over 70 per cent of the nearly Rs 34 trillion of fresh investments announced in H1 this year.
Industry leaders urge India to pursue diplomatic talks with the US, strengthen manufacturing, and consider China ties to gain leverage against tariff pressures.
The Air India board on Wednesday approved up to 50 per cent cut in the productivity-linked incentives (PLIs) for the airline's officers and executives. "The board has approved a cut by up to 50 per cent in PLIs for officers and executives, depending upon the salaries they are drawing," an Air India spokesperson said.
The government may provide for targeted fiscal incentives and allocation of funds for promotion of green hydrogen in the country in Union Budget 2022-23, which is slated to be unveiled in Parliament on Tuesday. The government launched National Hydrogen Mission in 2021. Earlier this month, Power and New & Renewable Energy Minister R K Singh had indicated that a green hydrogen policy will be unveiled in February which would feature many incentives to boost green hydrogen in the country. "While 2021 saw the launch of National Hydrogen Mission, it is likely that the Budget may provide for targeted fiscal incentives for R&D in green hydrogen segment, creation of domestic supply chain for hydrogen and reduce customs duties on electrolysers to boost green hydrogen production," says Venkatesh Raman Prasad, Partner, J Sagar Associates (JSA).
Air India has deferred payment of productivity-linked incentives to its employees for July till August 20 as part of cost-cutting measures, even though most of the staff would be getting their salaries on time.
Civil Aviation Secretary Vumlunmang Vualnam on Thursday said the number of planes with domestic airlines will increase to 1,400 in the next five years as he highlighted the growth potential of the country's aviation space. Currently, the fleet is around 800 aircraft and leading carriers IndiGo and Air India have placed significant plane orders.
Essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US on Wednesday, according to think tank GTRI.
The production linked incentive scheme (PLI) for automobile and auto components has so far attracted a proposed investment of Rs 67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday. A capital of Rs 14,043 crore has been invested till end-March 2024, it stated. Applicants have proposed employment generation of 1.48 lakh, against which 28,884 of jobs have been generated till March 31, 2024, the Economic Surevy 2023-24 stated.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
Apple Inc's iPhones assembled in India achieved market revenues of Rs 162,000 crore. Tata Steel's revenue for the same period was Rs 162,324 crore.
'...yet struggles to convert that human capital into domestic productivity.'
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
As many as 32 companies, including global biggies like HP, Dell and Lenovo, have applied under the Production Linked Incentive scheme for IT hardware, Union Minister Ashwini Vaishnaw said on Wednesday. The expected incremental production under the scheme is pegged at Rs 3.35 lakh crore, said Vaishnaw, Minister for Electronics and IT.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
There's no change in Apple Inc's India strategy, said a top government source. 'It can only be enhanced'.
The global PC landscape is poised for a seismic shift as artificial intelligence (AI) PCs are projected to dominate the market, with 98 per cent of all PCs expected to feature AI capabilities by 2028, according to a senior Dell executive. Talking to PTI, senior director and general manager of Client Solutions Group at Dell Technologies India, Indrajit Belgundi said AI PC adoption is significantly growing across all age groups, industries, and categories.
'We are increasing our footprint, but other markets also compete - like Indonesia or Vietnam.'
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
Smartphones, for the first time, emerged as India's largest individual export commodity by value over 10 months of any financial year, during the April-January period of FY25, based on harmonised system (HS) codes. During the period under review, smartphone exports from India reached $18.31 billion, according to data from the Department of Commerce, surpassing automotive diesel fuel exports, which stood at $16.04 billion.
Insurance intermediaries who receive disproportionately high commissions are likely to see a decline in their payouts, post the new Insurance Amendment Bill. The new Bill gives the Insurance Regulatory & Development Authority of India (Irdai) the power to disgorge unlawful gains made by insurers and intermediaries as well as the right to limit commissions paid to intermediaries.
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company's vendors and the government. This would account for around 12 per cent of Apple's global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.
Kant, a retired 1980-batch Indian Administrative Service (IAS) officer of Kerala cadre, was appointed as India's G20 Sherpa in July 2022, months before India assumed the G20 Presidency.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
Domestic rating agency ICRA on Monday said Indian companies are likely to clock 7-8 per cent revenue growth during the March quarter of the current fiscal year, led by revival in rural demand and uptick in government spending. ICRA expects the private capital expenditure (capex) cycle to remain measured in view of the uncertainties around geopolitical developments and relatively subdued outlook on merchandise exports from India.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
Hero MotoCorp Ltd (HMCL) has been the best-performing auto stock over the last three months, gaining over 17 per cent during this period. Multiple tailwinds, especially on the rural front, are expected to boost its volumes. In addition to the demand drivers, new launches too should help drive growth both in the commuter and premium motorcycle categories.
The government's two-year-old production-linked incentive (PLI) for air conditioner (AC) components has boosted domestic production, with average value addition or localisation increasing from 25 per cent to 55 per cent now, according to the scheme's beneficiaries. Last year, 10 million ACs were manufactured and sold in India and the number is expected to reach 14 million in 2024, according to industry estimates. Domestic production is expected to hit 30 million by 2030.
Leading home-grown companies - Dixon Technologies (India), Amber Enterprises India, Tata Electronics, Chennai-based Munoth Industries, and Murugappa Group - along with global majors such as Japan's TDK Corporation, Taiwan's Hon Hai Technology Group (Foxconn), Austria's AT&S Austria Technologie & Systemtechnik AG (AT&S AG), and Japan's Murata Manufacturing Co, among others, have expressed initial interest in participating in the Rs 22,919 crore production-linked incentive (PLI) scheme cleared by the Union Cabinet, according to those privy to stakeholder discussions with the government.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
'As long as Sebi maintains transparency and market stability, the Jane Street episode is unlikely to deter long-term foreign capital.'
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
